2020 and 2021 were challenging years for the beauty industry. Brands were forced to change profoundly, and overnight, in response to Covid-19.
There was an unavoidable shift to predominantly digital business models – something the European beauty market had been lagging behind on prior to the pandemic. Consumers also had the opportunity to pause and reflect on what mattered to them.
We were already beginning to see a shift towards digital, but multiple lockdowns accelerated this transition dramatically. One of our clients activated their entire five-year e-commerce plan in just nine months. At the end of 2020, McKinsey predicted...